Housing Market, What to Expect!

America’s Housing Market Is in Trouble. EJ Antoni tells us What To Expect Next.

Housing

All the data on housing indicates we’re firmly in a recession. Building permits for housing, an indicator of future construction, have been trending down all year, while the number of homes on which construction has started has trended down since April. Sales of new homes have fallen 39% this year, and sales of existing homes are also declining, indicating a broader market trend.

Since January 2021, homeownership affordability is down 32%.

Recession

The FOMC lowered its economic projections, forecasting GDP to grow at a tepid annualized pace of 0.2 percent in 2022 and 1.2 percent in 2023.

the total amount of money earned by the nation’s people and businesses—was revised heavily downward from 1.4% to just 0.1% in the second quarter.

Real (adjusted for inflation) disposable income in the second quarter decreased 1.5%; 0.9 percentage points worse than previously estimated.

The common man can afford to buy and save less than before.

Student Loan Cancel

The White House’s plan does nothing to make higher education more affordable. Instead, it incentivizes irresponsible behavior.

Jobs

Food, according to a new poll by The Associated Press-NORC Center for Public Affairs Research. Roughly 46% of people now describe their personal financial situation as poor, up from 37% in March.

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